BROWNWOOD, TX — (Marketwire) — 03/05/12 — Friendly Energy Exploration (OTCBB: FEGR) is pleased to announce the company is expanding operations into the South Texas region.
Doug Tallant, President of Friendly Energy stated, “Continuing in line with the company–s focus, we have researched other opportunities within Texas. We are fortunate to have acquired additional leases in San Patricio County with existing wells on them which are producing at this time and also offer opportunities at shallow depths to test additional formations. These coupled with leases we are currently negotiating in an adjacent county and expect to acquire will greatly increase the outreach of Friendly in Texas.”
Rick Hutchins, COO elaborated further stating, “The San Patricio leases right now are producing mostly gas. Reworking some of them may increase current production, but more importantly, there are additional formation zones at less than 3,000 feet which logs indicate may be oil producing. The sand formation is a prolific producer in the area, and the company will be closely researching these areas to determine additional production opportunities.”
About Friendly Energy:
Friendly Energy is an exploration, development and production company in the Oil and Gas Exploration Industry. The company is focusing on low cost oil and gas recovery in the State of Texas and Oklahoma. Friendly Energy is committed to building shareholder value by taking advantage of the current market pricing of oil and gas by developing undeveloped reserves with little downside risk. Please see the company–s website: .
This news release contains information that is “forward-looking” in that it describes events and conditions, which Friendly Energy Exploration (“FEGR”) reasonably expects to occur in the future. Expectations for the future performance of the business of FEGR are dependent upon a number of factors, and there can be no assurance that FEGR will achieve the results as contemplated herein and there can be no assurance that FEGR will be able to conduct its operations or production from its properties will result from or continue as contemplated herein. Certain statements contained in this report using the terms “may,” “expects to,” and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond the Company–s ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. FEGR disclaims any obligation to update any forward-looking statement made herein.
Sean Tallant
1 970-464-2619